Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
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Section 35 of the Arbitration and Conciliation Act binds not only the parties to an award but also persons claiming through or under them, so an award may be executed against non-signatories where their capacity or possession is derived from the award-debtor. Applying Cheran Properties and Cox and Kings, the HC found that the special purpose vehicle was created and controlled by the petitioners for their benefit, with its management, finances and operations entirely sourced from them; on those facts, the vehicle was inseparable from the petitioners for execution purposes. The executing court was therefore justified in proceeding against them under Section 35 read with Section 36 and Order XXI Rule 11 CPC, and the execution objections were rejected.
Section 35 of the Arbitration and Conciliation Act binds not only the parties to an award but also persons claiming through or under them, so an award may be executed against non-signatories where their capacity or possession is derived from the award-debtor. Applying Cheran Properties and Cox and Kings, the HC found that the special purpose vehicle was created and controlled by the petitioners for their benefit, with its management, finances and operations entirely sourced from them; on those facts, the vehicle was inseparable from the petitioners for execution purposes. The executing court was therefore justified in proceeding against them under Section 35 read with Section 36 and Order XXI Rule 11 CPC, and the execution objections were rejected.
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